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Mar 6, 2014
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their plan called for the deficit $819 billion in 2013. what was the deficit for 2013? >> $680 billion. >> well, that is much less than what simpson bowles projected sit not? >> it is. >> so last year, 2013, president obama exceeded the deficit reduction goal of simpson bowles of $139 billion. am i correct? >> yes, sir. >> yes, sir i would have to look at what numbers they have at what years. >> do you know what the number will be? >> it is 2016 and it will be 531. gee have to look at these numbers. give the president and this administration some credit. i have been pretty tough on them. give them some cd. they did something else. they did something that bass wa positionti positive. but you are never going to give any credit to anybody except the pat on the back at the christmas party. superintendant th isn't that wonderful? >> does this plan raise the age for social security? >> no, sir. >> does it change the measure of inflation for social security? >> so this administration has managed to reduce the deficit in 2013 below bowles simpson to social security. >> so now w
their plan called for the deficit $819 billion in 2013. what was the deficit for 2013? >> $680 billion. >> well, that is much less than what simpson bowles projected sit not? >> it is. >> so last year, 2013, president obama exceeded the deficit reduction goal of simpson bowles of $139 billion. am i correct? >> yes, sir. >> yes, sir i would have to look at what numbers they have at what years. >> do you know what the number will be? >> it is 2016...
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Mar 2, 2014
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in other words, there was a slight decrease in the deficit. you would hope there would be a significant one. but the only reason there was was because he had a provision in there about a more accurate measure of inflation under the cpi and social security. we now hear that he's actually going to take that out of the budget at a time when social security has a $63 billion shortfall every year, at a time again when we're told by this nonpart sap congressional budget office things are getting worse, not better. so if he takes that out as apparently he'll do businessed on the leaks because it's partisan political year, he's not going to have any can he have deficit reduction. so if that is true, boy, again, this is not responsible.he have deficit reduction. so if that is true, boy, again, this is not responsible. this is not responsive to what is really happening. >> let me bring in congressman van hollen. what we're talking about by far the biggest part of the budget and that is entitlements. last year as part of the budget, the president include
in other words, there was a slight decrease in the deficit. you would hope there would be a significant one. but the only reason there was was because he had a provision in there about a more accurate measure of inflation under the cpi and social security. we now hear that he's actually going to take that out of the budget at a time when social security has a $63 billion shortfall every year, at a time again when we're told by this nonpart sap congressional budget office things are getting...
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Mar 2, 2014
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we're talking about the deficits at the end of the -- >> i am talking about the deficits. the deficits go up. >> we'll submit a budget in a couple days. >> what were you going to say senator portman? >> no, chris, look, we clearly have a growing debt problem. this is the most predictable crisis in the country. the president refuses to deal it with. if you look at his budget last year, it barely had deficit reduction relative to what would happen otherwise. in other words, there was a slight decrease in the deficit. you would hope there would be a significant one. but the only reason there was was because there was a provision in there about a more accurate measure of inflation under the cpi and social security. we now hear that he's actually going to take that out of the budget at a time when social security has a $63 billion short fall every year at a time again when we were told by this nonpartisan congressional budgets office things are getting worse not better. if he takes that out as he's going to do based on the leaks because it's a partisan political year, he's not
we're talking about the deficits at the end of the -- >> i am talking about the deficits. the deficits go up. >> we'll submit a budget in a couple days. >> what were you going to say senator portman? >> no, chris, look, we clearly have a growing debt problem. this is the most predictable crisis in the country. the president refuses to deal it with. if you look at his budget last year, it barely had deficit reduction relative to what would happen otherwise. in other...
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Mar 6, 2014
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the deficits in terms of our infrastructure. thank you for giving me the opportunity. >> thank you for your answer and i wanted my remaining time to change subjects and go to energy we know that the fossil fuel industry has had a pretty good run things. we continue to leverage billions of dollars in subsidies, special limited partnerships only available to energy projects in depreciation rules in the field seems to be permanently tifton favor of fossil fuels while we continue to pay lip service to the need for lean energy and yet the comparatively meager -- are always temporary and we are is fighting for them. in fact we just lost a bunch of tax credits from last year. i want to ask what this budget does to give meaning to our rhetoric about the meaning to give energy a fighting chance. we know we need to get serious about it in this country. >> we see in the presence budget number of investments in terms of renewables in new energy. you see the investments in r&d in different forms throughout throughout the energy budget as wel
the deficits in terms of our infrastructure. thank you for giving me the opportunity. >> thank you for your answer and i wanted my remaining time to change subjects and go to energy we know that the fossil fuel industry has had a pretty good run things. we continue to leverage billions of dollars in subsidies, special limited partnerships only available to energy projects in depreciation rules in the field seems to be permanently tifton favor of fossil fuels while we continue to pay lip...
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Mar 5, 2014
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and as a result, the deficit would be better with deficit reduction which is what we are showing in our budget than if you did not have deficit reduction which is what a budget baseline would show. there is some other technical differences between our out your forecasts that are mostly on the revenue side come and not on the spending side. aca is the law of the land. >> do any of the discussions about tax revisions vary from current law? maybe certain expired tax revisions? >> obviously, we have a set of proposals in their. one of the places that is in our -- that is assumed in our budget is that in the 2010 and 2012 budgets, the president extended his increases for the refund ability in the child tax credit the increases in the earned income tax credit for families of three children and more and the marriage penalty and one of the president's innovations was that a portion of that was also refundable. in the budget agreement, those were extended for another five years through 2017. we would assume that those are extended permanently. we believe very strongly in that if those were t
and as a result, the deficit would be better with deficit reduction which is what we are showing in our budget than if you did not have deficit reduction which is what a budget baseline would show. there is some other technical differences between our out your forecasts that are mostly on the revenue side come and not on the spending side. aca is the law of the land. >> do any of the discussions about tax revisions vary from current law? maybe certain expired tax revisions? >>...
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Mar 5, 2014
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deficit --cting a last year's deficit was $680 billion. that was the first time in four years it was under a trillion. this year's deficit he rejects -- he projects it will be six or $49 billion and dropped to $564 billion. it does not deal with social security, medicare, medicaid programs that are growing me fastest. -- growing the fastest. the chained cpi reduction which year, on the table last something republicans have supported, he offered it only if republicans would agree to increase taxes on the wealthy. it is part of the grand bargain that washington has talked about for years. republicans do not want to go there. from thatled back issue. -- chairmanans have ryan has gone farther in the entitlement area, but it is ,ifficult for the president with his democratic base so type ofto any entitlement reform, unless they see higher taxes on the wealthy. we are in a standoff. spending? about what does he want to spend money on to try to grow the economy? package -- hes a has called it the opportunity growth and security fund. it would hit
deficit --cting a last year's deficit was $680 billion. that was the first time in four years it was under a trillion. this year's deficit he rejects -- he projects it will be six or $49 billion and dropped to $564 billion. it does not deal with social security, medicare, medicaid programs that are growing me fastest. -- growing the fastest. the chained cpi reduction which year, on the table last something republicans have supported, he offered it only if republicans would agree to increase...
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Mar 5, 2014
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it is deficit neutral. supporting what the president said in the state of the union, there is a series of programs to create jobs. it lays out $302 billion infrastructure proposal that is paid for with pro-growth tax. it strengthens the manufacture base and supports groundbreaking research to fight disease, protect the environment and develop new technology. it enhances the administration's management efforts to deliver a government that is more efficient and supportive of economic growth. and it will expand opportunity for all-americans. it doubles the maximum value of the earned income tax credit to encourage people to enter the workforce. and makes high quality preschool available to every four year old. and drive workforce training. it will focus on the primary drivers of long term debt and deficits. it builds on the forms of the affordable care act and continues to slow health care cost growth while improving the quality. it will curb tax breaks that benefit the wealthiest. it calls for pro-growth immi
it is deficit neutral. supporting what the president said in the state of the union, there is a series of programs to create jobs. it lays out $302 billion infrastructure proposal that is paid for with pro-growth tax. it strengthens the manufacture base and supports groundbreaking research to fight disease, protect the environment and develop new technology. it enhances the administration's management efforts to deliver a government that is more efficient and supportive of economic growth. and...
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Mar 6, 2014
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let's consider the deficit reduction that has occurred since the high deficit watermark achieved in the school year 2009. from the deficit of over $1.4 trillion in net year the deficit fell to a still high $680 billion in fiscal year 2013. of the $736 billion in deficit reduction, $670 billion came from increased revenue and only $66 million came from reduced outlays so in terms of budget realizations rather than promises for the future less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came from increased revenue yet remarkably in the face of that history the administration's insatiable desire for higher taxes leads it to propose more tax hikes along with even more spending. put simply the tax hikes envisioned in the president's budget are not what our struggling economy needs. unfortunately while having pledged to focus like a laser on jobs this administration decided over the last five years to focus on expanding government with a failed stimulus, the affordable care act and initiatives like the dodd-frank act that is growi
let's consider the deficit reduction that has occurred since the high deficit watermark achieved in the school year 2009. from the deficit of over $1.4 trillion in net year the deficit fell to a still high $680 billion in fiscal year 2013. of the $736 billion in deficit reduction, $670 billion came from increased revenue and only $66 million came from reduced outlays so in terms of budget realizations rather than promises for the future less than 9% of the deficit reduction between 2009 and...
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Feb 26, 2014
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this picture shows federal deficits, and the few years of surpluses, the deficit has come down very markedly over the past several years. from about $1.4 trillion or nearly 10% of gdp in 2009, to an estimated roughly $500 billion, or about 3% of gdp in 2014 under current law. we think deficit will fall again a bit next year but will then rise. you can see, though, the deficits over the next decade stay close to 3% of gdp. which is essentially their average share of gdp over the past 40 years. but that similarity to the past is worth noting, but also in some ways, masks two important aspects of the budget that will be very different than they've been in the past. so one of those aspects is the composition of federal spending. in this picture, these bars show social security spending as a share of gdp, 40 years ago, and our estimate for this year under current law, and then our projection for ten years from now. and you can see growth in social security exceeding growth in the economy. so a rising share of gdp being devoted to social security benefits. and that arises, of course, over the next
this picture shows federal deficits, and the few years of surpluses, the deficit has come down very markedly over the past several years. from about $1.4 trillion or nearly 10% of gdp in 2009, to an estimated roughly $500 billion, or about 3% of gdp in 2014 under current law. we think deficit will fall again a bit next year but will then rise. you can see, though, the deficits over the next decade stay close to 3% of gdp. which is essentially their average share of gdp over the past 40 years....
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Mar 4, 2014
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as a result obviously the deficit's a lot better with deficit reduction, which is what we are showing in our budget, than if you didn't have deficit reduction. which is what a budget baseline would show. there's some other technical differences between our outdear forecasts. they are mostly on the revenue ide not spending side. >> this is for anyone. do any of the participants know tax revisions vare frye from current law apart from the -- >> obviously we have a set of proposals in there, so one of he places where -- that's in our a -- assumed in our budget is that in the 2010 and 2012 budgets the president extended his increases for the refundibility in the child tax credit. the increases in the earned income tax credit for families for three children or more, and the marriage penalty. one of the president's innovation american opportunity tax credit was that a portion of that was also refundable. in the budget agreement those were extended for another five years, through 2017. we would assume that those are extended permanently. we believe very strongly in that if those were to expi
as a result obviously the deficit's a lot better with deficit reduction, which is what we are showing in our budget, than if you didn't have deficit reduction. which is what a budget baseline would show. there's some other technical differences between our outdear forecasts. they are mostly on the revenue ide not spending side. >> this is for anyone. do any of the participants know tax revisions vare frye from current law apart from the -- >> obviously we have a set of proposals in...
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the deficit is a problem, no question about it. we've made good progress on the deficit. i would posit the number one problem facing america is the decline of middle class incomes. it affects our economy in so many ways. it affects our politics. it affects our whole way of being as americans. doing the kinds of things you have done in the budget, both in terms of tax, such as the earned american opportunity tax credit, the provision that i helped author and worked with you to extend, making it permanent is great. the child tax credit and on the spending side i know is not your department, but doing investments and infrastructure and education and research. those are the ways to get the middle class moving again and have my highest priority. i have a couple of questions here on specifics. the first is on the as pire act. i know the chairman mentioned it in his opening remarks. it's so important because one of the greatest block is savings and assets to many americans. 19 appearance of new york households and 31 appearance of households nationwide have no savings account. t
the deficit is a problem, no question about it. we've made good progress on the deficit. i would posit the number one problem facing america is the decline of middle class incomes. it affects our economy in so many ways. it affects our politics. it affects our whole way of being as americans. doing the kinds of things you have done in the budget, both in terms of tax, such as the earned american opportunity tax credit, the provision that i helped author and worked with you to extend, making it...
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Mar 5, 2014
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in fiscal year 2009, we achieved a high deficit watermark of $1.4 trillion. that number fell to a still high $680 billion in fiscal year 2013. of the $736 billion of deficit reduction over that five-year span, $670 billion came from increased revenue or taxes and only $66 billion came from reduced outlays. so in terms of budget realizations, rather than promises for the future, less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came from increased revenue. yet the mantra from the administration continues: more revenue and higher taxes along with ever-more spending. one can only wonder where job creation falls into the mix, if it does at all. since president obama came into office, we've heard a lot of talk about his laser-like focus on job creation. however, the record of this administration suggests that this focus is more on growing government than on growing our economy. we've seen the failed stimulus, obamacare, and initiatives like dodd-frank, all of which have expanded the size and scope of th
in fiscal year 2009, we achieved a high deficit watermark of $1.4 trillion. that number fell to a still high $680 billion in fiscal year 2013. of the $736 billion of deficit reduction over that five-year span, $670 billion came from increased revenue or taxes and only $66 billion came from reduced outlays. so in terms of budget realizations, rather than promises for the future, less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came...
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Mar 2, 2014
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if you take it during the first trimester, it increases attention deficit risk by 9%. this is the time where the nerves and all the end krin and hormonal changes are taking on. if you take it in the second and third stritrimester, the risk increases to 68%. >> what about if your back is really killing you at the end. >> patients come to me and say what do i take? i say nothing. i feel more certain of that, because we always felt that the one thing could you take was acetaminophen, maybe tums. we don't want people taking ibuprofen or aspirin because it increases the risk of bleeding and early miss carriage. the problem is these are over-the-counter medications. i agree with david on the issue of fever, but you know who should make that decision? your doctor, not you. don't go to the store and say i have a 103 fever, i need tylenol. if nothing else, this is what it brings home. many people think oh, it's just a tylenol. the truth is, it's got active chemicals in it. this is a lot of patients, over 60,000. we have to figure out why this is happening. is it affecting the b
if you take it during the first trimester, it increases attention deficit risk by 9%. this is the time where the nerves and all the end krin and hormonal changes are taking on. if you take it in the second and third stritrimester, the risk increases to 68%. >> what about if your back is really killing you at the end. >> patients come to me and say what do i take? i say nothing. i feel more certain of that, because we always felt that the one thing could you take was acetaminophen,...
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which we have to some extent but not big enough the third way is to get the trade deficit down which strikes me is the the best. most rational path to go unfortunately there doesn't seem that much interest in that either in policy circles but that's the my view how we get you know aggregate demand back up and hopefully would see wage growth again dean talk to me about this how what about trade how would that work we will start with trade when we have a deficit around five hundred billion that means that money being generated here it's spent overseas trying to mexico wherever it might be not creating demand here so it creates a big hole in the minute how do you feel that the best way to correct the trade deficit is get the dollar down because the dollar is what determines relative prices if the dollar falls by twenty percent other things equal all these foreign goods cost us twenty percent more that means we'll buy domestic goods rather than foreign goods people will hate hearing out there well we've done this before and there is no other way you would just that so the people are payi
which we have to some extent but not big enough the third way is to get the trade deficit down which strikes me is the the best. most rational path to go unfortunately there doesn't seem that much interest in that either in policy circles but that's the my view how we get you know aggregate demand back up and hopefully would see wage growth again dean talk to me about this how what about trade how would that work we will start with trade when we have a deficit around five hundred billion that...
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Feb 26, 2014
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, increasing the deficit. so let me say a word about this. unlike many expenditures, including the wars in iraq and afghanistan, the truth is that this bill will not add one penny to the deficit. and let me repeat, this bill will not add one penny to the deficit. the congressional budget office, the nonpartisan scorekeeper, has estimated that mandatory spending in this legislation will total $2.88 billion over the next decade. all of this mandatory spending is completely offset, not by the overseas contingency operations or o.c.o., but through more than $4.2 billion in actual savings from programs within the jurisdiction of the senate veterans' affairs committee. as a result, c.b.o. has determined that overall mandatory spending -- mandatory spending in this bill will be reduced, will be reduced, by more than $1.3 billion. in addie mandatory spending, this bill authorizes $18.3 billion in discretionary spending over the next five years to improve the lives of our nation's veterans and their families. mr. presi
, increasing the deficit. so let me say a word about this. unlike many expenditures, including the wars in iraq and afghanistan, the truth is that this bill will not add one penny to the deficit. and let me repeat, this bill will not add one penny to the deficit. the congressional budget office, the nonpartisan scorekeeper, has estimated that mandatory spending in this legislation will total $2.88 billion over the next decade. all of this mandatory spending is completely offset, not by the...
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what is the deficit number in this proposal and define the two. >> guest: deficits are how much the government spends minus how much they raise in revenue. and they are measured in percentage of economy activity. it is around 4% and coming down fast. i think it is estimated to end around 3% and in the 2's next year so that is a big decline from 2010 where it was 10%. so that is progress. as long as the economy is growing faster than 2%, it will be a decline. every year you spend more than you have, and borrow money and that adds to the debts. so they would come down to a 1.6% gdp. the president will raise taxes on a trillion dollars mainly on wealthy people but some middle class as well. it would probably work. but it is a huge controversy from the taxes. ... thank you for taking my call. independent because most of us americans have caught onto the big blame game. , andeach blame each other basically they are on the same team. they have different ways to go about it. my main problem is the epa. we are giving him close to $8 million, and it'll do nothing for us. they let the fracking industry
what is the deficit number in this proposal and define the two. >> guest: deficits are how much the government spends minus how much they raise in revenue. and they are measured in percentage of economy activity. it is around 4% and coming down fast. i think it is estimated to end around 3% and in the 2's next year so that is a big decline from 2010 where it was 10%. so that is progress. as long as the economy is growing faster than 2%, it will be a decline. every year you spend more than...
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Mar 5, 2014
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obama says the budget deficit will decline to five hundred sixty four billion dollars the lowest level in his presidency. we go to the side of the road you squeeze the middle class or for going to continue to reduce the deficit is responsible for all taking steps to grow and strengthen the middle class. republican house speaker john bain are strongly criticized the draft he said it was the most irresponsible. he said it would only increase spending and borrowing expanded governments and hurt the economy. a ban on exports of raw materials has pushed indonesia's trade balance into the red for the first time in three months indonesian officials say the trade deficit in january came to about four hundred thirty million dollars exports of about fourteen point four billion dollars compared with imports of fourteen point nine billion dollars. the country has long earn foreign currency by exploiting natural resources and mining law they came into effect in january slowed overseas shipments beloved and exports of nickel copper and other minerals that have not been processed. the idea is to enco
obama says the budget deficit will decline to five hundred sixty four billion dollars the lowest level in his presidency. we go to the side of the road you squeeze the middle class or for going to continue to reduce the deficit is responsible for all taking steps to grow and strengthen the middle class. republican house speaker john bain are strongly criticized the draft he said it was the most irresponsible. he said it would only increase spending and borrowing expanded governments and hurt...
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Mar 5, 2014
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extra spending by definition adds to the deficit. by the way, to be fair here cbo is saying it will be a billion. but excuse me, 18. >> 8 billion. >> and well, the point is, they are claiming to get the money back eventually once obama care begins to pay off. the money that we spend on tarp spending, most of that money was paid back and there are precedents for companies that receive bail outs and paying back that money. it is anybody's guess. and judging on the basis of how obama care has gone so far, i don't think there is a good odd chance that the money will be paid back. president obama's budget that was released yesterday proposes to give hhs, health and human services now a trillions more. >> it is unbelievable. a trillion dollars would have been the entire budget and throw in the defense and everything. trillion shoes the commitment of the administration to all of the programs for the poor. we haven't seen an administration fund this much and spend this much money in the transfer payments is what we call the money with food s
extra spending by definition adds to the deficit. by the way, to be fair here cbo is saying it will be a billion. but excuse me, 18. >> 8 billion. >> and well, the point is, they are claiming to get the money back eventually once obama care begins to pay off. the money that we spend on tarp spending, most of that money was paid back and there are precedents for companies that receive bail outs and paying back that money. it is anybody's guess. and judging on the basis of how obama...
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Feb 27, 2014
02/14
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i know t deficits are coming dn. maybe there is a reassuring noon that it pil up on e president's precipitously to s it will be $3 trillion less than rates shot but it will still be neck-and-neck $8 tllion re. that is hoodwiwinking pple. >> i did not go that far. neil: someone tells you it will fall $3 trtrillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillionhat hat you meant. >> you rarely hear a politician who was fm this policy standpoint speaking to the same way you would hear an economist or someone in the financial industry. neilif you say you cut something then you better be cutting it not just saying that cut is off their rates of growth. that is disingenuous. >> the budget will be a huge issu. neil: no doubt. >> it will b something we have seen although it is not much of an issue during 2014. neil: if thas the case then doesn't at reinfoe th argumenent of little petus? that we know for both parties is a ticking time bomb? >> this focus in particular they do a lot ofesting and
i know t deficits are coming dn. maybe there is a reassuring noon that it pil up on e president's precipitously to s it will be $3 trillion less than rates shot but it will still be neck-and-neck $8 tllion re. that is hoodwiwinking pple. >> i did not go that far. neil: someone tells you it will fall $3 trtrillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillionhat hat you meant. >> you rarely hear a politician who was fm this policy standpoint...
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Feb 26, 2014
02/14
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neil: whenever with these deficits now in the dollar more that we spent with ever greasy with the deficits many argue this is the call before the benefits storm? >> there are two ways. one is mandatory spending with medicare and medicaid and social security in obamacare. second, we could have pro-growth tax reform and a structure to allow the economy to grow. neil: your party is good at playing these games that does little to sign onto the debt ceiling increase. on and on rigo. you need what you say those. >> but these are the facts the president to stop want to change the mandatory spending program. he does not want pro-growth tax reform failed wanted to have another government shutdown so what republicans had to do was a precautionary measure to stop the administratiin with their madness. it is the least of the bad options. neil: but you will give bin to take a mile and with all the new spending initiatives precisely because they have your number in baking keep spending because you were on the midterm election emprise then you will eventually do the things you wanted in the meantime isin
neil: whenever with these deficits now in the dollar more that we spent with ever greasy with the deficits many argue this is the call before the benefits storm? >> there are two ways. one is mandatory spending with medicare and medicaid and social security in obamacare. second, we could have pro-growth tax reform and a structure to allow the economy to grow. neil: your party is good at playing these games that does little to sign onto the debt ceiling increase. on and on rigo. you need...
SFGTV: San Francisco Government Television
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Mar 5, 2014
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we'll be contemplating that as we look at expenditure changes and closing the deficit as well as putting more muni service on the streets. our two big things within muni. we have similar issues throughout the rest of the agency the controllers do audit of a number of years ago identified inadequate staffing and the signage and some of the other assets and starting making progress there we need more progress we're under budgeting the enforcement overtime. that he there are many other communications that span out that's a big opportunity we've
we'll be contemplating that as we look at expenditure changes and closing the deficit as well as putting more muni service on the streets. our two big things within muni. we have similar issues throughout the rest of the agency the controllers do audit of a number of years ago identified inadequate staffing and the signage and some of the other assets and starting making progress there we need more progress we're under budgeting the enforcement overtime. that he there are many other...
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fiscal deficit those expect to be five percent five point two percent growth slowing to its worst in a decade and slower consumer demand you can see that in cars would fell for example for six to eight months even before the taper tantrum. and as a result the central bank they were lowering interest rates before the taper to occur proud and so that was a big shock when we got the taper tension for the for for and ok now that's really interesting because you know while the currency was already sliding it accelerated and the rupee was hitting all time lows that was day after day i believe exactly so india was in big trouble to say the least a big big big trouble and bad loans. they started once they started to climb in indian banks and the fear was a sudden stop in capital flows into the country much needed flows given its huge current account deficit now last august former i am after she took on a missed rajaraman john i got it i was so nervous i ventured out and he was appointed head of india central bank and version was one of the few economists who could reasonably claim to have pr
fiscal deficit those expect to be five percent five point two percent growth slowing to its worst in a decade and slower consumer demand you can see that in cars would fell for example for six to eight months even before the taper tantrum. and as a result the central bank they were lowering interest rates before the taper to occur proud and so that was a big shock when we got the taper tension for the for for and ok now that's really interesting because you know while the currency was already...
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Mar 4, 2014
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reducing deficits as a share of g.d.p. to 1.6% by 2024 and with regard to the issue of stabilizing our debt to g.d.p. ratio, that occurs in 2015, and then we start a declining path. the budget shows the president's vision for moving the country forward. it provides a responsible, balanced and concrete plan that can serve as a guide for congress and its work in the upcoming year. thank you. >> thank you. my role is to present the economic forecast that underpins the budget. the administration projects that economic growth will strengthen over the next several years as the economy continues to return to the full utilization of all its resources. the ongoing recovery will be aided by several factors. the overall shift of fiscal policy towards a more neutral stance, progress in household deleveraging, including gains in housing and stock market wealth and further potential for home building. this near-term recovery is consistent with c.b.o. which projects a similar pace of growth over the next three years. we assume that the g
reducing deficits as a share of g.d.p. to 1.6% by 2024 and with regard to the issue of stabilizing our debt to g.d.p. ratio, that occurs in 2015, and then we start a declining path. the budget shows the president's vision for moving the country forward. it provides a responsible, balanced and concrete plan that can serve as a guide for congress and its work in the upcoming year. thank you. >> thank you. my role is to present the economic forecast that underpins the budget. the...
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Feb 28, 2014
02/14
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CNNW
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the federal deficit was $680 billion in the last fiscal year. that's down from about $1.1 trillion the previous year. cnn global economic analyst, managing editor of "time" magazine. so it's a dramatic -- about 15% drop in the deficit, which is still high, but a lot less than it used to be. what happened? >> well, in short, the country's growing again. we have been in a recovery for the last year. hasn't felt like one to a lot of people, but growing your way out of a deficit is always the best way to do it. that happened during the boom period of the clinton years, what a lot of people have been hoping would happen once we got past the fiscal headwinds in washington, that we get back on a growth path. what's interesting, though, there is actually a cbo study out looking at the longer term impact on budget deficits. and we have to keep growing faster in order to keep it down. we go back to a 2% economy, those numbers will tick right back up. so the jury is still out on this. >> because that cbo report that came out the other day, it said right no
the federal deficit was $680 billion in the last fiscal year. that's down from about $1.1 trillion the previous year. cnn global economic analyst, managing editor of "time" magazine. so it's a dramatic -- about 15% drop in the deficit, which is still high, but a lot less than it used to be. what happened? >> well, in short, the country's growing again. we have been in a recovery for the last year. hasn't felt like one to a lot of people, but growing your way out of a deficit is...
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157
Mar 4, 2014
03/14
by
BLOOMBERG
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and results in a very large balance of payments deficit. these have to be fixed. they are fixable. that is the first order of business. >> imf headlines? >> this is from the u.s. treasury, announcing their assistance plans, the $1 billion loan guarantee is planned and they plan to send technical advisers to the ukraine, saying the treasury will be at the center of international aid and the plan will live to the russian tree move. >> would you presume that the imf is speaking with russia? ofis there a lack communication there? >> certainly, they are members and are represented at the executive board my and executive director. i am sure that there is communication. but the important point here is the technical analysis of what is needed to put ukrainian economic policy in a sustainable and positive mode. then to arrange the financing necessary to make the implementation practical. you so much.k greatly appreciate that from our washington news bureau this morning. really talking about the clamps that have to be placed down in the process. >> w
and results in a very large balance of payments deficit. these have to be fixed. they are fixable. that is the first order of business. >> imf headlines? >> this is from the u.s. treasury, announcing their assistance plans, the $1 billion loan guarantee is planned and they plan to send technical advisers to the ukraine, saying the treasury will be at the center of international aid and the plan will live to the russian tree move. >> would you presume that the imf is speaking...
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Mar 2, 2014
03/14
by
FOXNEWSW
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eye 93
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if you take it in the first trimester, it increases the risk of attention deficit by 9%. >> because? >> this is the time where the nerves and the endocrine and hormonal changes are going on. if you take it in the third trimester, that increases by 28%. if you take more than one trimester, the second and third trimester, then the increase is 68%. we want you to take it only if it's necessary. >> what's an alternative for a pregnant woman who may have some sort of pain? >> that's what i was going to say. patients come to me when they get pregnant and say what do i take? you take nothing on your own. i always said that. now even more so. we always felt that the one thing we could take was acetominophen or tums. we don't want you taking aspirin because it increases early miscarriage. they are over-the-counter medications. i agree with david on this issue of fever, but i want to make that decision with the obstetrician and not you. don't say he said 103 fever, better get it down. ask your doctor. these are chemicals. if nothing else, this is what it brings home. many take tylenol and the
if you take it in the first trimester, it increases the risk of attention deficit by 9%. >> because? >> this is the time where the nerves and the endocrine and hormonal changes are going on. if you take it in the third trimester, that increases by 28%. if you take more than one trimester, the second and third trimester, then the increase is 68%. we want you to take it only if it's necessary. >> what's an alternative for a pregnant woman who may have some sort of pain? >>...
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Feb 27, 2014
02/14
by
FBC
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eye 97
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i know the deficits are coming down. maybe there is a reassuring notion that itiles up on the presidt's precipitously to say it will be $3 trillion less than rates shot but it will sll be neck-and-neck $8 trillion more. th is hoodwinking people. >> i did not go that far. neil: someone tells you it will fall $3 trillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillion that is what you meant >> you rarely hear a politician who was from this policy standpot eaking to the same way you would hear an economist or someone in the financial industry. neil: if you say you cut something then you better be cutting it not jt saying that cut is off their rates of growth. that is disingenuous. >> the budget will be a huge issue. neil: no dbt. >> it will be something we have seen although it is not muchf an issue during 2014. neil: if that's the case then doesn't that reinforc the argument of little impetus? that we kn for both parties is a ticking time bomb? >> this focus in particular they do a lot of te
i know the deficits are coming down. maybe there is a reassuring notion that itiles up on the presidt's precipitously to say it will be $3 trillion less than rates shot but it will sll be neck-and-neck $8 trillion more. th is hoodwinking people. >> i did not go that far. neil: someone tells you it will fall $3 trillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillion that is what you meant >> you rarely hear a politician who was from this policy...
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Mar 4, 2014
03/14
by
KPIX
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this will not make up a humid deficit, but we're now -- huge deficit, but we are now in a pattern we have been waiting on. couple days of dry was like 80. >> now we can fill up the bucket. >> reporter: and we are. >>> lots of parents use noise- making devices to calm their baby or help them get to sleep. if you're one of them, you should hear what a new study has to say. >> they have lulled many infants get sleep and helped parents get shut eye, too. but a new study finds those machines and cuddly toys that produce soothing sounds can have an alarming down side. they can damage an infants hearing when set too loud or placed too close to a baby. pleasanton pediatrician says it is something he's been concerned about for years. >> babies could be pretty sensitive, especially at the newborn period where they have very small structures in their ears. >> researchers evaluated 14 popular machines and devices and found when set at maximum volume, from about a foot away, all exceeded 68 decibles. the doctor says it is about comparison. >> some of these parents are using these devices all duri
this will not make up a humid deficit, but we're now -- huge deficit, but we are now in a pattern we have been waiting on. couple days of dry was like 80. >> now we can fill up the bucket. >> reporter: and we are. >>> lots of parents use noise- making devices to calm their baby or help them get to sleep. if you're one of them, you should hear what a new study has to say. >> they have lulled many infants get sleep and helped parents get shut eye, too. but a new study...
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Mar 4, 2014
03/14
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MSNBCW
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while we've done a lot of deficit reduction, we've done it in the wrong way. we've focused on, i think, inadvertently through congress not being able to pick our policies on short-term measures that came out of the budget, which isn't where the problem is. what we should be doing is trying to replace those savings that came from the sequester that aren't as useful or long-term with more permanent and structural changes to entitlement programs and the tax code. that would be the best to do for the economy. >> let me ask you quickly before we go, because i think there is this growing consensus and you said you think there can be more that is done on that. give us a sense of where you think that can happen. >> well, i think there's different ways you have to look at income inequality, which is how people are making their money and what's happening after the government's involved, so one of the issues we have to look at is how to have more training, more education, more high skilled workers earning higher wages to begin with, so it's not just things like eitc and
while we've done a lot of deficit reduction, we've done it in the wrong way. we've focused on, i think, inadvertently through congress not being able to pick our policies on short-term measures that came out of the budget, which isn't where the problem is. what we should be doing is trying to replace those savings that came from the sequester that aren't as useful or long-term with more permanent and structural changes to entitlement programs and the tax code. that would be the best to do for...
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Mar 6, 2014
03/14
by
CSPAN2
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it has run up record number of deficits. you are doing the opposite and having the opposite results. the revenue ratios are the same as the clinton administration's. >> he was reducing spending. swroo we are -- >> discretionary. >> yeah. >> we are talking about the entire budget which brings me to the final question. you propose no reforms. i'm curious how you plan on doing that? >> the trillion dollars that occurs has been implementation. >> we have to keep this thing runs. miss lee. >> thank you very much. i apologized. i had another meeting. things got dhchanged around. i tonight believe anyone has asked you yet about the oversass account. i believe this is a so called police station holder at this point. >> there are strategies as it relates to the draw down in afghanistan. i'm very concerned that the oco has become a slush fund of wasteful spending. the pentagon reserved money even though most troops are coming home. even though congress appropriated a total for war costs in oco, when are we going to be able to finally
it has run up record number of deficits. you are doing the opposite and having the opposite results. the revenue ratios are the same as the clinton administration's. >> he was reducing spending. swroo we are -- >> discretionary. >> yeah. >> we are talking about the entire budget which brings me to the final question. you propose no reforms. i'm curious how you plan on doing that? >> the trillion dollars that occurs has been implementation. >> we have to keep...
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347
Feb 27, 2014
02/14
by
KGO
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eye 347
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in just minutes i'll show you the affect this rain is having on our rainfall deficit. >> now spencer just showed us the rain hitting every corner of the bay area, we got good down pours in the city this afternoon. but wettest weather has been north and south of us. we have team coverage of the storm, abc7 news, nick smith and david louie are all live tonight. sergio, let's begin with you in the north bay. >> it's started coming down regularly now in novato people say they're really welcoming the rain, but they're getting ready for any problems that it my bring. >> a full day of rain was a welcome sight. >> a lot of rain this time. we need it. >> stewart rv and boat sales says her boat-selling has just started off. she's hoping more rain now will help with lakes this summer. >> just trying to get back into our really good season. this is going to help. >> in heelsberg rains came down enough for decent runoff but russian river is looking shallow. in santa rosa a drizzle prompted people to pull out umbrellas at lunchtime. and this team south of petta luma. with the problems, residents s
in just minutes i'll show you the affect this rain is having on our rainfall deficit. >> now spencer just showed us the rain hitting every corner of the bay area, we got good down pours in the city this afternoon. but wettest weather has been north and south of us. we have team coverage of the storm, abc7 news, nick smith and david louie are all live tonight. sergio, let's begin with you in the north bay. >> it's started coming down regularly now in novato people say they're really...
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109
Mar 4, 2014
03/14
by
CSPAN
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eye 109
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at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class, or continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it is here and in the years to come as president. thank you very much, everybody. michael? >> do you have any response to president putin's press conference? is chancellor merkel right that he has lost touch with reality? >> i have not spoken to him since i spoke to him this past weekend. but obviously, me and my national security team have been watching events unfolding in ukraine very closely. i met with them again today. as many of you know, john kerry is in key avenue as we speak, at my direction. as we speak, at my direction, with full support for the ukrainian people. we have been working with our partners and the imf to build support for a package that helps to stabilize ukraine'
at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class, or continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it is here and in the years to come as president. thank you very much, everybody. michael?...
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134
Mar 4, 2014
03/14
by
FOXNEWSW
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eye 134
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president obama blew through those deficits. he had in excess of trillion dollar deficits year after year. what the republicans were able to do in the house is not continue that level of trajectory. has spending gone up? it absolutely has. but the level has slowed down and -- >> i get the feeling, congresswoman, maybe not you in particular, a lot of your party are giving up the fight and keeping the powder dry and hoping at the end of the year pick up more seats in the house and maybe take the senate and you bet you that will be the time when republicans get serious. but is that a lot to hang your hat on? >> well, what we need to hang our hat on is boosting the labor force participation rate. we're at the lowest level ever for anyone over age 16 actually having a job in the labor force and in a full-time capacity. that has to change. and unfortunately the president's budget is not a serious budget. it never balances. it doesn't send a signal to the marketplace, neil, that any time soon we're going to change -- see a change in wa
president obama blew through those deficits. he had in excess of trillion dollar deficits year after year. what the republicans were able to do in the house is not continue that level of trajectory. has spending gone up? it absolutely has. but the level has slowed down and -- >> i get the feeling, congresswoman, maybe not you in particular, a lot of your party are giving up the fight and keeping the powder dry and hoping at the end of the year pick up more seats in the house and maybe...
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104
Mar 5, 2014
03/14
by
BLOOMBERG
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eye 104
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or manufactured goods, that demand is not growing as fast as it was when trade deficits were expanding. the markets are going to find the environment stuff. what is the concern china or deflation? >> i don't think there will be deflation and i think we will see a long time of low growth. i don't think inflation will be a problem. of alarm also it's bells and i like to put the word demand in front of deflation. and thatalling wages means following command and a negative spiral. it is not just falling prices. is lots of sectors. you see groups and things like that. falling realu have wages that that is the problem. the cycle that japan went through and if you do not touch it at the right time, it is difficult to turn around. are we in a scenario like that? deflation and the specter of it hanging over us unless handled correctly. >> one of the characteristics of japan that contributed to the slow growth was a rapidly-aging population and people having a lower propensity to consume. that changed the balance of growth in the economy. there are european economies that have rapidly aging popu
or manufactured goods, that demand is not growing as fast as it was when trade deficits were expanding. the markets are going to find the environment stuff. what is the concern china or deflation? >> i don't think there will be deflation and i think we will see a long time of low growth. i don't think inflation will be a problem. of alarm also it's bells and i like to put the word demand in front of deflation. and thatalling wages means following command and a negative spiral. it is not...
147
147
Feb 27, 2014
02/14
by
KOFY
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eye 147
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in just minutes i'll show you the affect this rain is having on our rainfall deficit. >> now spencer just showed us the rain hitting every corner of the bay area, we got good down pours in the city this afternoon. but wettest weather has been north and south of us. we have team coverage of the storm, abc7 news, nick smith and david louie are all live tonight. sergio, let's begin with you in the north bay. >> it's started coming down regularly now in novato people say they're really welcoming the rain, but they're getting ready for any problems that it my bring. >> a full day of rain was a welcome sight. >> a lot of rain this time. we need it. >> stewart rv and boat sales says her boat-selling has just started off. she's hoping more rain now will help with lakes this summer. >> just trying to get back into our really good season. this is going to help. >> in heelsberg rains came down enough for decent runoff but russian river is looking shallow. in santa rosa a drizzle prompted people to pull out umbrellas at lunchtime. and this team south of petta luma. with the problems, residents s
in just minutes i'll show you the affect this rain is having on our rainfall deficit. >> now spencer just showed us the rain hitting every corner of the bay area, we got good down pours in the city this afternoon. but wettest weather has been north and south of us. we have team coverage of the storm, abc7 news, nick smith and david louie are all live tonight. sergio, let's begin with you in the north bay. >> it's started coming down regularly now in novato people say they're really...
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154
Mar 4, 2014
03/14
by
BLOOMBERG
tv
eye 154
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interesting to look at and something i picked up that i thought was interesting, look at the deficit and the gdp ratio in the years ahead. that taking into account the entire budget will be put into play. this is not the case and people on both sides say that this is the case. you see the numbers going down 2.3%, the budget to gdp ratio is at precrisis levels. to gdp -- and this goes down $13 billion. nobody expects this budget to be put into place but projections are moving down on the deficit, which is why you see a president who is willing to go out there and talk about new spending ther years when the -- all talk in washington is about cuts. >> thank you, phil mattingly and peter cook, with the latest about the president and the secretary of state. >> we want to make sure we get a final few thoughts with oliver leavitt, who has a big week coming up. day.onal detox t >> national unplug day. i have been working with arianne huffington and i learned something interesting about our constant connections. morning,wake up in the and you start looking at your e-mail and your constantly c
interesting to look at and something i picked up that i thought was interesting, look at the deficit and the gdp ratio in the years ahead. that taking into account the entire budget will be put into play. this is not the case and people on both sides say that this is the case. you see the numbers going down 2.3%, the budget to gdp ratio is at precrisis levels. to gdp -- and this goes down $13 billion. nobody expects this budget to be put into place but projections are moving down on the...
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142
Mar 3, 2014
03/14
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MSNBCW
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eye 142
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they say, gee, we have a terrible deficit. we're going to have to cut social security, medicare, medicaid, education, environmental protection. the needs of the kids' nutrition programs because of this deficit. so if you are asking me, do i this i that same set of policies will play out? more money for defense, then rising deficits and then cutbacks on programs that middle class and working families need? absolutely, that is what will happen. >> what is going to happen to these veterans, now, senator, if they're not going to get this kind of funding. there are a lot of veterans in this country that are being undercut, that are not being -- our obligation, we are not living up to our obligations because of war and budget cuts. so what does that say to the next generation thinking of a career in the military? >> that's a very important point. it says if we cannot keep faith with those people really hurting as a result of service to this country, i think you will have a lot of young people out there saying do i really want to mak
they say, gee, we have a terrible deficit. we're going to have to cut social security, medicare, medicaid, education, environmental protection. the needs of the kids' nutrition programs because of this deficit. so if you are asking me, do i this i that same set of policies will play out? more money for defense, then rising deficits and then cutbacks on programs that middle class and working families need? absolutely, that is what will happen. >> what is going to happen to these veterans,...
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721
Mar 2, 2014
03/14
by
KSTS
tv
eye 721
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y que dice que reducimos el dÉficit nacional por 9 cientos mil millones td dÓlares. creamos 1,2 millones de trabajos y que tambiÉn, el crecimiento de la economÍa nacional sube por varios porcientos por ser la reforma. hay poco que podemos hacer, que es humano, que reduce el dÉficit y que crece la economÍa y que crea trabajo. la reforma migratoria es algo de eso. y el presidente de la cÁmara seda y nos de un voto en la cÁmara. si no es la y la que pasÓ al senado en su propia versiÓn para llegar a un acuerdo final podemos crear las oportunidades. >>> senador bob menÉndez de nueva jersey muchas gracias. el senador republicano, de la florida marco rubio forma parte del comitÉ de relaciones exteriores. y esta semana en el pleno, el senador pidiÓ que se estableciera sanciones contra el gobierno de venezuela, por la represiÓn contramano fes tantos pacÍficos. lori montenegro hablÓ con Él sobre venezuela, cuba, mÉxico y mÁs. >>> ha sido un severo crÍtico de nicolÁs maduro hace algunos dÍas, escuchamos declaraciones, incluso de la ex secretaria de estado hi
y que dice que reducimos el dÉficit nacional por 9 cientos mil millones td dÓlares. creamos 1,2 millones de trabajos y que tambiÉn, el crecimiento de la economÍa nacional sube por varios porcientos por ser la reforma. hay poco que podemos hacer, que es humano, que reduce el dÉficit y que crece la economÍa y que crea trabajo. la reforma migratoria es algo de eso. y el presidente de la cÁmara seda y nos de un voto en la cÁmara. si no es la y la que pasÓ al senado en su propia versiÓn...